"They should save their money," Seth Allen, the dean of admission and financial aid at Grinnell, said as he glanced at the full-color brag sheets stacked on a nearby desk.

Mr. Ma said that out of 110 mainland students, only one has needed a refund, though two clients have been granted admission only if they pay full tuition.

By the company's own admission, a full-time worker might not be able to support a family on a Wal-Mart paycheck.